As per reports, Tata Electronics made significant advancements in iPhone production during 2024, solidifying its role in Apple’s supply chain in India. After acquiring Wistron’s iPhone manufacturing facility in Karnataka’s Narsapura in October 2023, the company substantially increased its production, exports, and workforce.
The Narsapura facility, now operated by Tata Electronics, recorded an extraordinary annual production value of over ₹40,000 crore in 2024, a staggering 180% increase from the previous year. This growth positioned the company as a major player, accounting for 26% of all iPhones manufactured in India.
Exports also experienced a significant boost, with the company achieving a 125% year-on-year increase. Annual exports soared to ₹31,000 crore, demonstrating Tata Electronics’ ability to meet Apple’s global supply chain demands effectively.
The surge in production and exports was accompanied by a notable expansion in the workforce. The company’s employee base grew by 63%, rising from 19,000 workers in 2023 to 31,000 in 2024. This increase not only supported its growing operations but also highlighted Tata Electronics’ contribution to job creation in the Indian manufacturing sector.
Despite the impressive growth, Tata Electronics faced a major setback when a fire broke out at its Hosur facility in Tamil Nadu’s Krishnagiri district in September 2024. The incident caused significant damage and required multiple days to bring under control. However, the company swiftly resumed operations and managed to ramp up manufacturing to maintain its commitments.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Published on: Jan 15, 2025, 3:11 PM IST
Team Angel One
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